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Russian economy in freefall as mortgage costs triple and mass layoffs cripple major firms (www.irishstar.com)
submitted 2 years ago by to c/world@quokk.au
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Russia's economy is teetering on the brink of collapse, with industrial production taking a nosedive and major corporations initiating widespread layoffs as the impact of a three-year war with Ukraine inevitably hits home.

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[–] 7 points 2 years ago (2 children)

It was and still is a very costly war. He even fired the old head of defense for an economist. It's that important. Recovery is probably going to be really rough, especially if he can't plunder Kiev.

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  • [–] 2 points 2 years ago (1 child)

    Some could argue that the minerals in captured Eastern Ukraine could pay dividends for Russia, but it may not necessarily matter because Russia already has its own huge mineral reserves that pale what is in Eastern Ukraine.

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  • [–] 1 point 2 years ago

    Monopolists don't necessary care about the particular supply their smaller competitors can offer. They just want to control supply in general and make it so that buyers have no alternative.

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